Tharani Haresh Acquires North Bay Village Office For $7M
SOLD
$7,000,000
Florida
See Similar DealsOffice18,000 SF
Sold 06/17/2022
SOLD
Tharani Haresh Acquires North Bay Village Office For $7M
1681 N Bay Cswy, North Bay Village, Florida 33141, United States
See Similar DealsOffice18,000 SF
Sold 06/17/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$388
Total Square Footage:18,000 SF
Transaction Type:Sale
The office property located at 1681 N Bay Causeway in North Bay Village has been sold. The transaction took place on June 17, 2022, with a sale price of $7,000,000. The property spans 18,000 square feet, resulting in a price per square foot of $389.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,000,000
- Address: 1681 N Bay Causeway
- Market: North Bay Village
The buyer of the property is Tharani Haresh, while the seller is Leaseflorida NBV represented by Jake & Alan Waserstein. The deal was facilitated by Sam Heskiel from Beachfront Realty.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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